Question: 1. 2. 20.00 points E7-14 Analyzing and Interpreting the Inventory Turnover Ratio LO7-5 Sheldon Inc. is the leading manufacturer of personal computers. In a recent
1. 2. 20.00 points E7-14 Analyzing and Interpreting the Inventory Turnover Ratio LO7-5 Sheldon Inc. is the leading manufacturer of personal computers. In a recent year, it reported the following in dollars in millions: Net sales revenue Cost of sales Beginning inventory Ending inventory $ 61,161 50,444 1.280 880 Required: Determine the inventory turnover ratio and average days to sell inventory for the current year. (Use 365 days a year. Round your intermediate calculations and final answers to 2 decimal places.) Inventory turnover Average days to sell inventory days References eBook & Resources Worksheet Difficulty: 2 Medium E7-14 Analyzing and Interpreting the Inventory Turnover Ratio LO7-5 Learning Objective: 07-05 Evaluate inventory management using the inventory turnover ratio. Check my work
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